(1) This section applies where the Bank of England has made a property transfer instrument in accordance with section 12(2) or 12ZA(3) ("the original instrument") providing for the transfer of property, rights or liabilities to a resolution company.

(2) The Bank of England may make one or more resolution company reverse property transfer instruments in respect of property, rights or liabilities of the resolution company.

(3) If the Bank of England makes an onward property transfer instrument under section 43 the Bank may make one or more resolution company reverse property transfer instruments in respect of property, rights or liabilities of a transferee under the onward property transfer instrument ("the onward transferee").

(4) A resolution company reverse property transfer instrument is a property transfer instrument which -

(a) provides for transfer to the transferor under the original instrument (where subsection (2) applies);

(b) provides for transfer to the resolution company (where subsection (3) applies);